O-2020-IDA-150 CRP/TREP New Decade Owner

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(excluding amounts which would be so payable wit: respect to any Substantial increase in value of suc. tangible personal property to which subparagraph 2 above applies), had been within the corporate limits o City and appraised each year by the City's independen appraiser, in accordance with the applicable provision of the Texas Property Tax Code. with the sum of 1, 2 and 3 reduced by the amount of City 's valorem taxes on the annexed portion thereof as determined appraisal by the Harris County Appraisal District. 4. Notwithstanding the above, should City elect to gran - the freeport inventory exemption authorized by Articl, VIII, Section 1-j of the Texas Constitution and Sectio: 11.251 of the Texas Property Tax Code to taxpayer within the City limits, then the freeport inventor, exemption shall apply to parties to this Agreement Further, should inventory or any other class or type o property become exempt from taxation by constitutiona amendment or act of the Texas Legislature (including but not limited to, Article VIII, Section 1-n, of th Texas Constitution and Section 11.253 of the Texa Property Tax Code),, such class or type of propert shall be exempt for purposes of this Agreement, unles the City Council of the City of La Porte shall b Ordinance provide for the continued taxation of suc property under the authority of any applicabl provisions of the Texas Constitution and Texa Statutes. 5. City and Company acknowledge circumstances mig: require the City to provide emergency services Company's Property described on Exhibit "A" attach, hereto. Emergency services are limited to fir police, and public works emergency services. Company is not a member of Channel Industries Mutu Aid Association (CIMA), Company agrees to reimbur City for its costs arising out of any emergen response requested by Company to Company's propert and to which City agrees to respond. If Company is member of CIMA, the obligations of Company and Ci shall be governed by the CIMA agreement, to whi agreement City is a party. IV. This Agreement shall extend for a period beginning on the 1st day of January, 2020, and continuing thereafter until December 31,, 2031, unless extended for an additional period or periods of time upon mutual consent of Company and City, as provided by the Municipal Annexation Act; provided, however, that in the event this Agreement is not so extended for an additional period or periods of time on or before August 31, 2031, the agreement of City not to annex property of Company within the District shall terminate. In that event, City shall have the right to commence 0